Exploring Investment Banking Strategies of Zimbabwean Commercial Banks in Securing on-Lending Finance during the Multicurrency Regime (2009-2013)
Journal Title: Scholars Journal of Economics, Business and Management - Year 2017, Vol 4, Issue 4
Abstract
Abstract:This study sought to determine the effectiveness of investment banking strategies of Zimbabwean banks in securing on-lending finance for the period 2009-2013. Literature review provided the theoretical framework for the whole study and considered empirical evidence as well. It outlined and discussed the main investment banking activities on the capital markets.The descriptive survey was the research design adopted for the study. A representative sample of five individuals from the investments section of the Exchange control division of the Reserve Bank of Zimbabwe was selected to participate in the study. Questionnaires and interviews were used as research instruments. The study revealed that over the review period, the investment banking function of banks in Zimbabwe was ineffective in mobilizing adequate financing for on-lending to borrowers. The study highlighted the shallowness of the capital market in Zimbabwe with regard to volume and value of trades or transactions performed over the review period as well as the narrow instrument availability on the same capital market.The study recommended that structural changes are required in the economy, including a review of existing investment laws in order to align such with the objective of attracting more foreign finance to the Zimbabwean capital markets. This therefore implies committed engagement between the banking industry and government in order to prioritize the needs of the country. Keywords:Capital markets, Investment banking solutions, capital adequacy, Risk management, intermediation
Authors and Affiliations
Phillip G. Chihumba, Kenell Madzirerusa
Keywords
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